He Ministry of Trade and Industry (MICI) sent to the company Minera Panama, SAcomments and extensions resulting from the evaluation Preservation and Safe Management Plan (PGS)by the institutions that make up the Intergovernmental Commission for the Orderly Closure of Copper Panama.
Each entity issued its own recommendations, in accordance with the nature of its functions and its powers in the supervision of the components of the mine.
Within the comments, it is indicated that the document under study must be subject to possible adjustments or changes, and that it must be expanded in accordance with the time and phases of the closing process, in order to faithfully comply with the decision issued by the Supreme Court of Justice (CSJ)November 27, 2023, declaring unconstitutional Act 406 of 2023, establishing a contract law between the State of Panama and Minera Panamá, SA
He Conservation and Safe Management Plan for Copper Panamapresented by Minera Panamá, SA, describes the current state of the mine, including infrastructure, equipment, materials, and current stability needs, as well as areas in need of safety improvements, as a document that meets the minimum requirements for conducting PGS at Cobre Panama.
As part of the evaluation of the Plan, the Commission points out the following:
1. The company will be required to define a detailed schedule of activities that will be carried out during the execution of the PGS.
2. Also to state the georeferenced locations of all objects listed in the PGS.
3. Permits required for the various operations listed in the PGS must be duly approved by the appropriate state institutions.
4. The company will be required to present a schedule/order for the dismantling of facilities, equipment and structures, giving priority to sensitive areas (storage of dangerous substances and explosives, etc.).
5. Company Minera Panama, SAwill have to comply with obligations Environmental Impact Study (EIA) Approved category III, and by the approval decision DIEORA-IA-1210-2011 of December 28, 2011.
6. Minera Panamá SA must determine financial guarantees to cover the costs of implementing mine closure actions, and the estimated monthly amount of PGS costs must be broken down in as much detail as possible.
7. In relation to deposits of hazardous materials, it is necessary to identify alternatives in terms of safety against fire, explosions or alternative use of these materials. It is important to specify different usage scenarios for each material, i.e. moving and re-exporting.
8. Quantitative and qualitative multi-element sampling is necessary to determine the geochemical characteristics of the copper concentrate stored for future sale.
9. Sensitive water management facilities such as sedimentation facilities, tailings management facilities, sinkholes, derivation channels and others must present their monitoring schedules.
10. The implementation of the PGS will require a public relations strategy that must be used thoroughly, ensuring and reaffirming transparency, with the involvement of all involved actors and civil society.
Meanwhile, in the short term, government agencies overseeing the process are scheduled to enter the Cobre Panamá mine to conduct new checks, according to PGS.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
